STR Reports Global Hotel Performance for
January 2013

According to data compiled by STR Global, hotels
in the Asia Pacific region experienced mixed results in the three
key performance metrics in January 2013 when reported in U.S.
dollars.

In January 2013, the Asia Pacific region's
occupancy ended the month with a 7.7% increase to 65.2%, ADR
decreased 6.3% to US$130.39 and RevPAR was up 1.0% to US$85.00.

"Despite having a 6.3% ADR decline in U.S.
dollars for January 2013, the occupancy increase of 7.7% for the
month helped the region achieve a positive RevPAR growth of 1% in
US$," said Elizabeth Randall Winkle, managing director of STR Global. "For Central and South Asia, India is driving down the ADR
with a drop of 9.3% US$ for the month of January. Northeast Asia,
which includes the regions of China and Japan, had their
year-on-year changes impacted by the Chinese New Year. In 2013,
the celebrations were held entirely in February, whereas in 2012
it was split between January and February. Overall, Northeast Asia
saw an ADR decline of 11.2% in US$."

Highlights from key
market performers for January in local currency (year-on-year
comparisons):

- Delhi (-16.6% to US$137.30) and Osaka, Japan
(-14.1% to US$111.94), posted the largest ADR decreases for the
month.

- Three markets experienced RevPAR increases of more
than 35%: Shanghai (+37.4% to US$54.95); Ho Chi Minh City (+36.6%
to US$97.45); and Beijing (+35.1% to US$61.75).

- Delhi fell
19.6% in RevPAR to US$86.66, reporting the largest decrease in
that metric.

The Americas

In January, the Americas region reported a 3.3%
increase in occupancy to 51.3%, a 4.8% gain in ADR to US$109.21
and an 8.3% jump in RevPAR to US$56.04.

Among the key
markets in the region, New York, New York, reported the largest
occupancy increase, rising 11.4% to 73.8%. Buenos Aires, Argentina
(-12.2% to 52.7%), and Panama City, Panama (-12.2% to 50.3%)
posted the largest occupancy decreases for the month.

Four markets
achieved RevPAR increases of more than 15%: Washington, D.C.
(+25.8% to US$79.24); San Juan (+18.4% to US$158.09); Miami
(+17.5% to US$174.26); and New York (+16.3% to US$145.17).

Panama City reported the largest ADR (-9.4% to US$113.93) and
RevPAR (-20.5% to US$57.27) decreases for the month.

Europe

"In euros, Europe's first month of the new year posted
negative RevPAR results, being driven by a decline in ADR," said
Ms Randall Winkle.
"Western Europe was the only region in Europe to post positive
RevPAR growth, with an increase in occupancy of 1.4% and ADR of
0.3% in euros. Germany is one of the main contributors within
Western Europe to achieve positive results during the first month
of 2013, achieving a RevPAR growth of 7.2% in euros."

Highlights from key market performers for January 2013 include
(year-on-year comparisons, all currency in euros):

-
Bratislava, Slovakia (+20.9% to 42.8%), and Copenhagen, Denmark
(+10.2% to 51.0%), reported the largest occupancy increases for
the month.

- Reykjavik,
Iceland, reported the largest ADR increase, rising 23.1% to
EUR68.88, followed by Tallinn, Estonia, with an 11.9% increase to
EUR74.43.

- Three markets
experienced RevPAR increases of more than 15%: Reykjavik (+26.5%
to EUR30.31); Bratislava (+18.4% to EUR26.94); and Tallinn (+16.4%
to EUR35.57).

Middle East/Africa

The region reported an 8.2%
increase in occupancy to 59.8%, a 1.3% increase in ADR to
US$182.81 and a 9.6% increase in RevPAR to US$109.29.

"The
entire region posted a 9.6% increase in RevPAR for the first month
of 2013 and was the best global performer in RevPAR% change,"
Ms. Randall Winkle said. "The
Middle East is growing in both occupancy and ADR. Whilst still recovering in occupancy, the ADR in the African nations is still
suffering as a result of continued political turmoil. Southern
Africa showed a growing ADR of 8.3% (local currency)."

Highlights among the region's key markets for January 2013 include
(year-on-year comparisons, all currency in U.S. dollars):

- Manama, Bahrain, reported the largest occupancy increase,
rising 40.0% to 56.6%, followed by Cairo, Egypt (+17.2% to 42.7%),
and Muscat, Oman (+14.9% to 67.9%).

- Amman, Jordan, fell 29.4%
in occupancy to 45.7%, posting the largest decrease in that
metric.

- Jeddah, Saudi Arabia, increased 14.0% in ADR to
US$241.24, achieving the largest increase in that metric.